Taiwanese life insurers opt for rare bullets
Taiwanese life insurers diversified further away from 30 year multi-callable zero coupon deals this week, buying rare 20 year fixed rate deals — some with calls and some rare bullets — from Australian banks this week.
The investors usually prefer multi-callable structures, but rising long-end rates mean the bullet format now often hits their yield targets.
"Long end rates have moved upwards so its not quite as necessary to go down the structured side," said a MTN dealer on Monday. "The problem with the callable ...Already a subscriber? Login